Jabil Inc. (NYSE:JBL) Chairman Sells $3,335,000.00 in Stock

Jabil Inc. (NYSE:JBL) Chairman Mark T. Mondello sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $166.75, for a total value of $3,335,000.00. Following the sale, the chairman now directly owns 1,710,192 shares in the company, valued at $285,174,516. This trade represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Jabil Stock Performance

JBL stock opened at $171.80 on Thursday. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $174.80. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The business’s fifty day simple moving average is $148.62 and its two-hundred day simple moving average is $148.51. The firm has a market cap of $18.44 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.65 and a beta of 1.14.

Jabil (NYSE:JBL) last posted its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.11. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The business had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter in the prior year, the company earned $1.68 EPS. The business’s revenue was down .6% compared to the same quarter last year. Analysts predict that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend was Thursday, May 15th. Jabil’s payout ratio is 7.66%.

Analyst Ratings Changes

Several brokerages have recently issued reports on JBL. JPMorgan Chase & Co. decreased their price objective on Jabil from $175.00 to $154.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Barclays upped their price objective on Jabil from $179.00 to $184.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. The Goldman Sachs Group decreased their price objective on Jabil from $175.00 to $146.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. UBS Group upped their price objective on Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Finally, Wall Street Zen upgraded Jabil from a “hold” rating to a “buy” rating in a report on Monday, May 19th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $158.50.

Hedge Funds Weigh In On Jabil

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. First Hawaiian Bank boosted its position in Jabil by 47.9% during the first quarter. First Hawaiian Bank now owns 10,647 shares of the technology company’s stock valued at $1,449,000 after purchasing an additional 3,447 shares in the last quarter. Inspire Investing LLC boosted its position in Jabil by 52.0% during the first quarter. Inspire Investing LLC now owns 17,743 shares of the technology company’s stock valued at $2,414,000 after purchasing an additional 6,072 shares in the last quarter. Invst LLC bought a new stake in Jabil during the first quarter valued at about $630,000. Modern Wealth Management LLC boosted its holdings in Jabil by 21.1% in the first quarter. Modern Wealth Management LLC now owns 1,762 shares of the technology company’s stock worth $240,000 after acquiring an additional 307 shares in the last quarter. Finally, Strs Ohio acquired a new stake in Jabil in the first quarter worth about $26,118,000. Institutional investors own 93.39% of the company’s stock.

Jabil Company Profile

Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; electronic circuit design services, such as application-specific integrated circuit design, firmware development, and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA).